PM Modi in Tanzania: India extends USD 92 million Line of Credit

In a bid to enhance its ties with resource-rich Tanzania, India on 10 July extended its full support to the African nation to meet its development needs and signed five agreements, including one for providing a Line of Credit of USD 92 million in the water resources sector.

Prime minister Narendra Modi described India as a trusted partner in meeting Tanzania's development and said he along with President John Pombe Joseph Magufuli "agreed to deepen our overall defence and security partnership, especially in the maritime domain".

"Our in-depth discussions on regional and global issues reflected our considerable convergence on issues of common interest and concern," he said.

"India's cooperation with Tanzania will always be as per your needs and priorities," Modi said at a joint press interaction after his bilateral meeting with President Magufuli.

Both the sides signed an agreement under which India will provide a Line of Credit of USD 92 million for rehabilitation and improvement of Zanzibar's water supply system.

Other agreements signed include an MoU on water resource management and development, MoU for establishment of vocational training centre at Zanzibar, MoU on visa waiver for diplomatic/official passport holders and an agreement between National Small Industries Corporation of India and Small Industries Development Organisation Tanzania.

Prime Minister said the two countries are also working on a number of other water projects for 17 cities in Tanzania.

"For this India is willing to consider an additional USD 500 million line of concessional credit," he said.

Describing Public Health as another important area of bilateral engagement, Modi said India is ready to meet the healthcare priorities of the Tanzanian government, including of supply of medicines and equipment.

"I am told that an Indian radio-therapy machine is being installed at Bugando medical centre to treat cancer patients," he said.

He said during his meeting with President Magufuli, they detailed discussions on the full spectrum of bilateral partnership.

"Our focus was to shape an action oriented agenda of cooperation, so that we talk less of potential and more of achievements on the ground. We agreed that our common desire of economic prosperity for our societies is creating new opportunities for expanding our cooperation," he said.

To achieve this, the two nations agreed to deepen partnership in agriculture and food security, including through enhanced export of pulses from Tanzania to India.

They also decided to work together in development and use of natural gas.

India agreed to partner Tanzania in building of industrial economy, capacities and institutions.

The two leaders also decided to deepen bilateral trade and investment partnership by encouraging greater industry to industry ties.